Thursday, May 11, 2006

Quotes of the Morning: All About the Benjamins

“The House on Wednesday passed a bill sought by President Bush to deliver tax cuts to investors and to keep 15 million taxpayers from being hit by the alternative minimum tax. The House passed the $70 billion tax-cut measure by a 244-185 vote. The Senate is expected to approve the bill Thursday. The bill devotes $21 billion to a two-year extension of the reduced 15 percent tax rate for capital gains and dividends, currently set to expire at the end of 2008. It would also extend, for this year, recent changes to the alternative minimum tax, originally aimed at making sure the wealthy pay at least some taxes to prevent it from hitting more upper middle-income families. And it would keep 15 million families from being hit this year with the alternative minimum tax, which was designed to make sure the wealthy paid taxes but is ensnaring more upper middle-income families because it was not indexed for inflation. The cost of this one-year AMT ‘patch’ is $34 billion.” -CBS News, May 10, 2006

“Hey, we can afford that $70 billion dollar tax cut right now. The economy is thriving, so obviously tax revenues are way up and we can afford to give out some cash to Americans to help them through the increased price of gasoline and things like that. I mean, a $70,000,000,000 tax cut sure seems like it will help more than that stupid $100 that Bill Frist was looking to hand out to everyone last week.” -Skippy

“For those with income of $50,000 or less, the average saving is no more than $46. those with income of up to $100,000 average no more than about $400 saved; those with income of $100,000 to $1 million save anywhere from $1,300 to $5,500. Taxpayers with more than $1 million in income will average nearly $42,000 a year in savings, reports CBS News correspondent Sharyl Attkisson.” -CBS News, May 10, 2006

“Oh… Well I guess that it isn’t such a good deal for the disadvantaged. Less than $50. Still, the wealthy are the gears of the Great Machine of State (the poor are merely the grease), so helping them helps us all. I mean, it isn’t like we can’t afford it.” -Skippy

“A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government's borrowing limit. The provision -- buried on page 121 of the 151-page budget blueprint -- serves as a backdrop to congressional action this week. House leaders hope to try once again to pass a budget plan for fiscal 2007, a month after a revolt by House Republican moderates and Appropriations Committee members forced leaders to pull the plan.” -Washington Post, May 9, 2006

“Um… So we can’t afford it? The deficit has increased about $4,000,000,000,000 since Dubya came into power? Well, we’ll just have to make some cuts. Hmmm… That Iraq thing we’re doing isn’t all that popular. Why throw money at a show that isn’t getting good reviews? Let’s cut the funding for training Iraqi forces! What do you have to say about that Rummy?” -Skippy

“In addition, cuts and delays in providing funds for the Iraqi security forces will delay what has been truly significant progress in turning over greater responsibility and territory to Iraq’s army and police. A slowdown in training and equipping the Iraqi security forces will have unacceptable harmful effects of postponing the day when our men and women in uniform can return home with the honor and appreciation they deserve.” -Donald Rumsfeld, May 9, 2006

“Dang straight Rummy! Get r’ done! Sorry I doubted you. Don’t let these people take the money that you need to finish the job. Why, if our troops are being killed in Iraq, it’s probably because they aren’t being funded adequately!” -Skippy

“The U.S. military has spent just 40 percent of the $7 billion appropriated in 2005 for the training of Iraqi and Afghanistan security forces, a top Pentagon priority that is lynchpin for the withdrawal of U.S. troops from Iraq.” -Associated Press, April 14, 2006